OpenAI Discusses Giving Altman 7% Stake
OpenAI is discussing giving Chief Executive Officer Sam Altman a 7% equity stake in the company and restructuring to become a for-profit business, people familiar with the matter said, a major shift that would mark the first time Altman is granted ownership in the artificial intelligence startup.
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OpenAI is discussing giving Sam Altman a 7% equity stake in the company and restructuring to become a for-profit business, Bloomberg reports#openai #SamAltman #ai https://t.co/UB6vtRBGBy
— The_Journalbiz (@the_journalbiz) September 26, 2024
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The company is considering becoming a public benefit corporation, tasked with turning a profit and also helping society, said the people, who asked not to be identified because the information is private. The transition is still under discussion and a timeline has not been determined, one of the people said.
- OpenAI is mulling the changes against the backdrop of an exodus of senior managers. Chief Technology Officer
Mira Murati said on Wednesday she is leaving; a surprise move that marks the latest high-profile departure from the startup. In the months after it suddenly fired and then rehired Altman last year, OpenAI has been in a state of flux — losing multiple managers and shifting the structure of some of its teams.
OpenAI is currently working to raise $6.5 billion at a $150 billion valuation, which would make it one of the most valuable startups in the world, Bloomberg reported this month. That boost on top of the possible new equity could add more than $10 billion to Altman’s net worth, according to the Bloomberg Billionaires Index, vaulting him into the ranks of the world’s richest people.
